Yes, it’s been an ugly few weeks for high-flying tech stocks. But as rough as it’s been, just before midday today, Facebook was up nearly 6% this week. This was thanks to a big jump the shares got on Wednesday after Sheryl Sandberg said she had ruled out running for political office and was staying on as Facebook’s second-in-command for the time being.
In fact, Facebook is the top-performing stock in the S&P 500 index this week and the shares are still up a tidy 9% this year, even after tumbling 15% over the last month. So, at least for Facebook, that brutal selloff hasn’t been so brutal after all.